Meridian Bioscience, Inc. (VIVO) has put up its earnings and revenues guidance for the fiscal 2015 ending September 30, 2015. The diagnostic test-kit maker expects earnings per share between 85 and 91 cents for the fiscal year, which is almost the same as earnings per share of 85 to 90 cents anticipated for fiscal 2014.
The per share estimates includes a rise in average diluted shares outstanding to roughly 42.4 million at the end of fiscal 2015 from approximately 42.2 million at the end of fiscal 2014.
Meridian Bioscience also expects net revenues to grow in the range of 2 to 5% to approximately between $193 and $200 million for fiscal 2015. The company reiterated its revenues guidance of $190 to $195 million for fiscal 2014.
The company noted that revenues and earnings guidance is from expected internal growth and does not include the impact of any acquisitions it might complete during the next fiscal year.
Meridian Bioscience's revenues guidance is based upon the fact that markets will remain highly competitive in the next year as established and new diagnostics competitors attempt to offer their new molecular platforms. The company also expects double-digit growth to continue for Bioline molecular components business, partially offset by tamed growth in immunoassay components business.
The Zacks Consensus Estimates for earnings per share and revenues for fiscal 2014 are pegged at 86 cents and $191 million, respectively. The Zacks Consensus Estimates for earnings per share and revenues for fiscal 2015 stand at 88 cents and $196 million, respectively. The estimates for earnings per share lie within the guidance range but the same for revenues lies outside the guided range.
Meridian Bioscience reported earnings per share of 21 cents for the third quarter of fiscal 2014 (ended Jun, 30), a decline from the year-ago earnings of 24 cents by 12.5% as well as the Zacks Consensus Estimate by a penny. Net earnings decreased 13.0% to $8.8 million from $10.2 million in the prior-year quarter.
Revenues in the quarter inched up a mere 0.2% to $47.2 million but missed the Zacks Consensus Estimate of $49 million. The year-over-year growth was led by robust sales of the flagship illumigene product line.
Presently, Meridian Bioscience has a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the medical products industry include ICU Medical, Inc. (ICUI), Abaxis, Inc. (ABAX), and Symmetry Medical, Inc. (SMA). ICU Medical sports a Zacks Rank #1 (Strong Buy), while both Abaxis and Symmetry Medical carry a Zacks Rank #2 (Buy).
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